For individual taxpayers, no big relief in budget4 min read 03 Feb 2021, 05:33 AM IST
New unit-linked insurance policies (ULIPs) taken after 1 February 2021 will be taxed on maturity as capital gains, if the premium of such new policy or policies for any year exceeds ₹2.5 lakh
This budget does not contain any significant new financial relief for individual taxpayers. Probably, this is on account of the fact that certain reliefs, such as exemption for LTC spent on purchase of specified goods, or permitting higher variation of 20% from stamp duty valuation on purchase of property during a limited time period, had already been announced earlier, and are merely being given effect to in this budget. However, some administrative reliefs have been provided.
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